May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn
Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the...
Business
Business
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...
- Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says its CEO Priyanka Sengar.
- The portal is committed to breaking down barriers to women's professional success, including pay disparity and limited leadership representation, she adds.
Business
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
- Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
- Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Business
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
- Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
- Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Geostrategy
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
- The director general of WTO said the "ground-breaking initiative... embodies our collective commitment to empower women".
- The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
Business
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
- Binaa Al Bahrain aims to contribute to Bahrain’s long-term development through its iconic projects.
- The JV aspires to create job opportunities for Bahrainis in the real estate, hospitality and healthcare.
Economy
Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
- The expansion, will add a further 16 million tons of LNG per year to existing expansion plans
- Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia
Economy
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
- The Saudi energy minister said that reserves at Jafurah had reached 229trn cubic feet of gas and 75bn barrels of condensates
- The Jafurah gas field, in Saudi Arabia's eastern province, is the largest liquid-rich shale gas play in the Middle East
Business
Ford halts shipment of F-150 EVs
It will carry out quality checks on pickup trucks.
- The automaker said the shipments were stopped on Feb. 9, but did not say when it expected to resume shipments
- The company began shipping this week the first newly designed gas-powered 2024 model F-150 pickups to dealers
Business
Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
- Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain & Company.
- With a spotlight on sustainability and strategic growth, 2024 holds optimistic prospects for merger and acquisition activity in the Middle Eastern region, including GCC.
Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
- Ratcliffe, 71, earlier this week completed a deal to become co-owner of Manchester United, with a pledge to drive the English football giants to renewed success
- On Friday, Jim Ratcliffe noted that a desire by subsidiary Ineos Automotive to produce zero-carbon cars was hampered by how far they could travel without a recharge
May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn
Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the...
Business
Company News
Latest News
Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
ADNIC okays 45% dividend for 2024
The company achieved its highest ever revenue and net profit.
Business
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
Most Read
Business
Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...
- "We are going to be writing every day in support and defense of two pillars: personal liberties and free markets," wrote Bezos on social media platform X
- In January, an award-winning political cartoonist for the newspaper announced her resignation after a cartoon depicting Bezos groveling before Trump was rejected
Business
stc net profit for 2024 $6.58bn
This is an increase of 85.7 percent over the previous year.
- Revenues for 2024 rose 5.7 percent over the previous year to reach SAR 75.893 billion, and gross profit reached SAR 37.30 billion.
- Operating profit increased 9.6 percent over the previous year to reach SAR 14.426 billion.
Business
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...
- A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
- Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.